110 Stocks Drop To 52-Week Lows, Quality Stocks Fall Too, See List
It’s not an easy time for the broader markets, though the Nifty still remains below the 17,000 points. While the benchmark indices the Sensex and the Nifty and still better placed, it is the broader markets that is causing a pain for investors.
While it’s not possible to highlight the entire list of stocks hitting 52-week lows, we have just given a list of 15 to 17 stocks, which are good quality names across sectors.
Century Plyboards, CDSL, Emami, Eris Lifesciences, Gillette India, Indian Hume, Mangalam Organics, Motilal Oswal, Pfizer, Polyplex, Sheela Foam, Shreyas Shipping, TV Today Network, Motilal Oswal Financial Services and Stovekraft all dropped to 52-week lows.
The problem for the markets now arise from rising interest rates and worries over the banking sector in the US. One of the bigger problems is the colossal losses investors are seeing in the broader markets.
It’s highly possible that retail investors are stepping back and investing money in fixed deposits, which are now offering much better interest rates.
Some analysts believe that retail interest is ebbing. The market has gone nowhere in the last 1-year and good quality stocks are falling. Higher interest rates and increasing costs of inputs are weighing on the manufacturing sector. Financial Services, media stocks are all bearing the brunt. Some good quality stocks like TV Today Network, Motilal Oswal are more from the services side, which are also seeing investor selling pressure. In fact, both these stocks have seen sustained selling pressure. Remember, TV Today Network is a debt free company.
Meanwhile, markets are likely to remain subdued in a higher interest rates regime. Infact, interest rates are likely to remain higher for longer.
Please note, we have highlighted in the article, stocks hitting 52-week lows. We have no buy, sell or hold call on any of the stocks. Greynium Information Technologies and the Author, are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.